B&G Foods (NYSE:BGS) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• B&G Foods' share price moved above its 200-day moving average (200‑day MA $4.62), trading as high as $4.91 and last at $4.7850 on volume of about 1.67 million shares while the 50‑day MA remains higher at $4.93.
• Wall Street consensus is a Reduce rating with an average target of $4.70—analyst views are mixed (four Hold, two Sell) and price targets cluster around $5.00 from some firms.
• The company declared a quarterly dividend of $0.19 (annualized $0.76, 15.9% yield, ex-dividend Mar 31), but the payout ratio is negative (-140.74%) and insiders have recently sold shares.

B&G Foods, Inc. (NYSE:BGS - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.62 and traded as high as $4.91. B&G Foods shares last traded at $4.7850, with a volume of 1,667,303 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. TD Cowen restated a "sell" rating on shares of B&G Foods in a research note on Wednesday, March 4th. Evercore set a $5.00 price objective on shares of B&G Foods in a research note on Wednesday, March 4th. Weiss Ratings reissued a "sell (d)" rating on shares of B&G Foods in a report on Monday, December 29th. Finally, Barclays increased their target price on B&G Foods from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 5th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $4.70.

B&G Foods Trading Down 2.3%

The stock's 50 day simple moving average is $4.93 and its 200 day simple moving average is $4.62. The firm has a market cap of $382.66 million, a PE ratio of -8.86 and a beta of 0.46. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.43 and a current ratio of 3.32.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.28. B&G Foods had a positive return on equity of 8.43% and a negative net margin of 2.37%.The firm had revenue of $539.56 million during the quarter, compared to analysts' expectations of $537.50 million. During the same period in the prior year, the business earned $0.31 EPS. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a $0.19 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 15.9%. B&G Foods's payout ratio is presently -140.74%.

Insider Activity at B&G Foods

In other B&G Foods news, Director David L. Wenner sold 19,500 shares of B&G Foods stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $5.19, for a total transaction of $101,205.00. Following the sale, the director directly owned 787,566 shares of the company's stock, valued at approximately $4,087,467.54. The trade was a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrew D. Vogel sold 20,000 shares of the company's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $5.19, for a total value of $103,800.00. Following the completion of the sale, the executive vice president directly owned 50,679 shares in the company, valued at approximately $263,024.01. The trade was a 28.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 50,821 shares of company stock worth $266,138 in the last 90 days. Company insiders own 4.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BGS. Northwestern Mutual Wealth Management Co. raised its holdings in B&G Foods by 502.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company's stock worth $31,000 after buying an additional 6,207 shares during the last quarter. Triumph Capital Management bought a new stake in shares of B&G Foods during the third quarter valued at approximately $34,000. Allworth Financial LP increased its position in shares of B&G Foods by 49.5% during the third quarter. Allworth Financial LP now owns 7,891 shares of the company's stock valued at $35,000 after acquiring an additional 2,612 shares in the last quarter. Federated Hermes Inc. purchased a new position in B&G Foods in the 2nd quarter worth approximately $35,000. Finally, Integrated Wealth Concepts LLC bought a new position in B&G Foods in the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 66.15% of the company's stock.

About B&G Foods

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company's product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.